Sprouts opened 10 stores in the quarter and continued to expand its private label program, which now accounts for more than 10 percent of its revenue, according to Maredia. It’s also continuing work on its other key initiatives including expanded deli and fresh prepared offerings and growing its digital presence with customers.

Maredia commented that Sprouts foresees flat fourth-quarter comps. Investors reacted negatively to its unchanged earnings guidance for the full year, sending stocks down this morning.